The False Face of SBF, FTX, and ESG

The vast majority of ESG funds and firms are similarly misdirective. Freewheeling use of terms like “sustainable” obscure a wide variety of investment activities, some decidedly at odds with common public notions of “green” investing. Between 2019 and June 2022, some 65 US funds were re-branded as “sustainable,” without any consensus as to the meaning of the term.